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New York energy deregulation began in 1999 with the founding of the New York Independent System Operator, NYISO. This organization is responsible for managing New York’s electric grid as well as the competitive marketplace. NYISO provides data and analysis pertaining to New York’s power system to ensure reliability and transparency.
The deregulated market opened energy supplier up to competition- forcing them to be more efficient as it relates to both service and price. New Rochelle businesses of all sizes can compare energy plans from top energy suppliers and shop for the lowest electricity rates, taking advantage of the competitive market and managing their monthly electricity costs.
The PSC, or Public Service Commission of New York State, provides a variety of services to protect and assist utility customers. This includes service quality, competition, and metering for electricity. The PSC was created to assure the residents of New York State have adequate, efficient, reliable, and safe public utility services at a fair price.
In doing so, the PSC impacts every business in New Rochelle – as it regulates all providers of utility services, including electric and natural gas companies, local and long-distance telephone companies, water companies, and steam generators. The PSC is responsible for ensuring that the utility companies regulated by the PSC are responsive to the needs and concerns of individual consumers and to the public.
As a New Rochelle business owner, it is important to understand that the PSC is also synonymous with the “NYS Power to Choose” energy comparison charts.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utility in New Rochelle is Consolidated Edison and is responsible for transporting electricity from the generators to residential homes and businesses in this specific region.
Energy providers in New York, like Direct Energy and Frontier Energy are the competitive energy retailers. Each energy provider buys energy from the wholesale market (the generators) and then re-sells it to consumers (homeowners, renters, and businesses).
In most cases, the consumer, the homeowner, renter, or business, signs a contract with an energy provider for a specific energy plan. The basic energy plan details the rate class, the energy rate per kWh, the contract term length (6, 12, 24, 36 months), and other contract terms like cancellation fee policy.
Energy choice, also known as energy market deregulation, allows New Rochelle business owners to select their energy supplier. New Rochelle has been a deregulated market since May 1999.
New Rochelle, listed as the best city in New York State, is located 15 miles northeast of NYC. With a population of approximately 77,062 according to the 2010 census, New Rochelle was originally settled by French Protestants in 1688. The city lies along the Long Island Sound, making it a popular vacation destination during the summer. The city is filled with residential neighborhoods, and features some of the most expensive real estate in the nation.
New York state small business employed 4 million people and grew by 113,528 net new jobs according to the latest SBA Small Business Profile. The 4 million employees represent 50.2% of the total employees in New York state. In total 2.1 million small businesses in New York make up 99.8% of the total businesses in the state.
New Rochelle is primarily a residential area, with numerous offices and shopping areas. Originally known as an agricultural city, as the population grew it became a popular summer resort. Former manufacturing and warehousing facilities have been converted into “big box” retailers. The corporate headquarters of Sidney Frank Importing, Blimpies, and East River Saving Bank are in New Rochelle.
See today's electricity rates for cities in New York.